• Apple Crashes on Wall Street in Apparent Trading Accident



    Shares of Apple (AAPL) were halted on Wall Street briefly today as traders and investors panicked amidst a free fall of the tech stock seemingly without reason.

    "A single trade of 100 shares at a price of $542.80 hit the tape at 10:57 coming from the BATS Exchange," CNBC confirms. "The previous trade seconds earlier was at a price of $598.26."

    The traders I spoke with this morning say they suspect a so-called error trade, sometimes known as a fat-finger mistake.

    But there could be other factors involved. Nine minutes before the way out of market trade took place, BATS sent an alert stating, “Please be advised that BATS is currently investigating system issues trading in symbols range A through BF.”
    Nasdaq subsequently cancelled the trades and AAPL is now back to trading around the $600 mark. At one point today, the stock was down about $60 a share. So fast was the free fall that the single stock plunge triggered a "circuit breaker," halting trades amidst enormous selling pressure and abnormal volatility.

    There could be more to this story as time passes. We will keep you posted.

    Source: CNBC
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